Full Throttle

The fate of the Gold Coast IndyCar race for 2009 and beyond will be sealed within a fortnight of this weekend’s event.

Indy 300 chairman Terry Mackenroth says negotiations to keep the race in Queensland will be held over the four-day race weekend, starting today.

Organizers want a five-year contract to continue running the event.

Speculation over the race’s future has been rife in recent weeks due to an impasse between US Indy bosses and the Queensland Government over next year’s race dates.

IndyCar officials are understood to want next year’s event moved to late September or early October, which would mean a suicidal calendar clash with either the AFL or NRL grand final.

The Queensland Government, which pumps $11 million a year into the Surfers Paradise street race, wants the event to continue in the late October slot occupied for the past decade.

But Mackenroth said today he was confident negotiations would be successful and the race’s future would be secured long-term.

He has set a deadline of 14 days from Sunday to determine whether it continues.

And he confirmed the government was seeking a five-year deal.

“We will be holding a number of meetings over the weekend. If an agreement can be reached, a binding contract will be signed within 14 days of the event,” Mackenroth said.

“It’s what we’ve agreed on and what we intend to do. It is our intention to make a very clear statement within 14 days of the event.” The Gold Coast Indy has been run on the Gold Coast since 1991.

Support racing began today with the IndyCars and V8 Supercars taking to the Surfers Paradise street circuit for the first time tomorrow.